Rural
Magaliesburg is set to benefit from several residential developments that
are awaiting services before construction starts.

The tiny town, conveniently located on the main route between Randfontein
and burgeoning Rustenburg, is likely to draw buyers who currently work
in and around Rustenburg but commute from Randfontein because of housing
stock shortages, says Sienie van der Merwe, owner of the Aida Magaliesburg
franchise.

The planned residential developments will boost the local property
market, which is currently somewhat in the doldrums following uncertainty
about wide-ranging State contracts to buy agricultural land surrounding
the town for land redistribution.

Several contracts have been signed with the State in the past 18
months, but the process has now stalled. Lack of money to pay the landowners
has been given as the reason and has left scores of owners uncertain about
their future. Contracts for land totalling more than 2000ha in the Magaliesburg
area have been signed, she says.

Construction of seven new developments, however, will add around 200
residential units to the tiny hamlet, which currently offers less than
20 full-title homes. New units will include clusters as well as full-title
units, says Van der Merwe. Services such as water, electricity and sewerage
are currently being installed.

Units are expected to become available in the course of next year
and we expect strong demand.

These developments will not only offer a convenient base for commuters
who work at the mines and related industries near Rustenburg, but because
Magaliesburg already draws a fair number of weekend visitors due to its
peaceful rural setting, we expect that units will also be popular among
lifestyle buyers.

The towns tourism industry was boosted by exposure gained through
hosting the Portuguese soccer team during the World Cup, she adds. Several
hotels in the area are set to benefit from this exposure.

Local commercial enterprises are gearing up for the expected influx of
new residents and a local supermarket is already in the process of upgrading
and extending its premises.

Magaliesburg is situated about 15 minutes drive from Randfontein
and about 30 minutes from Rustenburg.